Standard Custody will support FLR tokens.
Standard Custody, a subsidiary of Polysign, which provides institutional custody services for digital assets, will support FLare Networks FLR token, says Polysign CEO Jack McDonald.
Mickey_B_Fresh (@MrFreshTime), an XRP influencer, disclosed this in a tweet on Saturday, sharing clips from a Linqto chat with the Polysign CEO on Thursday.
“Flare is on our list, not currently, but it’s on our roadmap,” said McDonald in the shared clip.
📣 @StandardCustody has @FlareNetworks Token on their Roadmap for Institutional custody says CEO @_JackMcDonald_ @PolySignInc 2nd Blockchain *#AtomicNet* launching 2023, a Settlement Layer! 👀 Plans after phase 1 👉have a PUBLICLY available TOKEN AMA video Hosted by @linqtoinc pic.twitter.com/5Ix2ECGPb5
— Mickey_B_Fresh☀️ (@MrFreshTime) December 17, 2022
It is significantly bullish for longstanding members of the XRP community, who will receive FLR token rewards in January as part of an airdrop for XRP holders at the time of a December 2020 screenshot, as reported by The Crypto Basic. Notably, an influx of institutional capital will likely prop up the value of the FLR tokens, and Polysign plans to create an avenue for this with Standard Custody.
It bears mentioning that Polysign is strongly linked with Ripple having David Schwartz and Arthur Britto on its board. In a Thinking Crypto podcast last year, McDonald highlighted that XRP was the first asset onboarded on the platform and confirmed a desire to work with Ripple and XRP holders. Support for FLR tokens may be the first step.